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Thursday, September 28, 2017

KUALA LUMPUR (Sept 28): Jaycorp Bhd’s net profit for the fourth quarter ended July 31, 2017 rose 42.3% to RM7.4 million, from RM5.2 million a year earlier, on higher contribution from its furniture segment.

Revenue grew 18.2% to RM80.5 million from RM68.1 million, Jaycorp said in a filing with Bursa Malaysia.

The furniture segment reported a pre-tax profit of RM6.2 million during the quarter due to increased demand from overseas markets and the strengthening of the US dollar against the ringgit.

The group’s kiln-drying segment's pre-tax profit also grew because of lower write down of inventories, said Jaycorp.

“Turnover and profitability for the carton box segment also expanded due to higher demand from internal and external customers whereas the improvement in the renewable energy unit was a result of operational efficiency, cost control measures and higher selling price," the group added.

For the full year, net profit went up 18% to RM24.8 million from RM21 million in the previous year, while revenue climbed 8.1% to RM312.8 million from RM289.4 million.

The board has proposed a final dividend of six sen per share, bringing total payout for the current year to 11 sen, as opposed to 10 sen in the previous year.

Looking forward, Jaycorp said the furniture industry remains its core business, and the group will continue to focus on controlling costs and exploring new markets for its products in order to achieve better profits and growth of the business.